Buy.com Becomes First Major Merchant to Adopt ``Bill Me Later'' Payment Option.Business Editors & High-Tech Writers ALISO VIEJO, Calif.--(BUSINESS WIRE)--Oct. 28, 2002 Buy.com Inc., The Internet Superstore(TM), today announced that it is the first major merchant to adopt I4 Commerce's Bill Me Later(R) payment option. Starting this holiday shopping season, Bill Me Later will offer Buy.com customers a new way to pay for items ordered on the Web or over the phone. After choosing Bill Me Later at checkout and agreeing to the terms, qualified buyers are instantly authorized for the amount of their purchase. I4 Commerce then sends the customer a bill that can be paid in full at no extra charge, or financed over time by making minimum monthly payments. "By offering consumers a payment option like Bill Me Later, we further enhance the Buy.com online experience, and lower our transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). ," said Robert Price Robert Price may refer to:
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to make the purchasing process Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements easier and more enjoyable for our customers. Offering Bill Me Later opens the door to thousands of customers who may have yet to purchase from Buy.com." Management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm A.T. Kearney states that one of the main reasons consumers abandon online shopping carts is their reluctance to enter credit card details (46% of responders citing). I4 Commerce's innovative new payment method is specifically designed for "card-not-present" merchants, including phone orders, mail orders and e-commerce transactions. "It is our objective to work with premier merchants like Buy.com to provide them with payment products that grow sales, increase profits and enhance customer relationships," said Gary Marino, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of I4 Commerce. "Bill Me Later addresses the lack of choice and high transaction costs that studies show are continuing to suppress the growth of Web and catalog sales." About Buy.com Buy.com, The Internet Superstore(TM) and low price leader, offers its approximately 5 million customers more than 1.5 million products in a range of categories including computer hardware and software, electronics, cellular products and services, music, DVDs, books, and more. Individuals and businesses can shop quickly and easily at Buy.com 24 hours a day, 7 days a week. Buy.com was named the "Best Overall Place To Buy Mobile Devices" (January 2002), "Best E-Commerce Site" by PC World magazine (June 2001), "Best Overall Place To Buy" by Computer Shopper Computer Shopper could referr to the following publications:
Buy.com, founded in June 1997, is located in Aliso Viejo. For more information, visit www.buy.com. About I4 Commerce I4 Commerce provides payment solutions to merchants that make commerce more convenient, secure and profitable. The company has strategic relationships with the industry's largest payment processors, including Paymentech and First Data Corp. (NYSE NYSE See: New York Stock Exchange :FDC FDC - Floppy Disk Controller ). I4 Commerce holds the patent pending rights to proprietary technology, information processing and payment processes used in conjunction with its flagship product offering Bill Me Later(R), a payment solution that gives consumers an alternative to credit cards. I4 Commerce's strong management team, led by Marino, has a proven track record of success at Citibank and First USA/Bank One. Note to Editors: Buy.com(TM) and The Internet Superstore(TM) are trademarks of Buy.com Inc. |
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